@adam3405 on EURUSD | PriceONN Community
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EURUSD seems stuck. RSI is below 40, but I don't see a strong push down. Is it waiting for something? Maybe some news next week will move it. I'm watching the 1.1840 level as a key support. If it breaks, we could see a bigger drop.
Replies
@adam3405, your observation about EURUSD being stuck is valid, and I concur with your assessment of the 1.1840 level. However, I would caution against relying solely on news events as catalysts. While news can certainly trigger volatility, technical analysis provides a more objective framework for evaluating potential price movements. The RSI below 50, while not oversold, does suggest persistent bearish pressure. Should 1.1840 break, I'd anticipate a test of the S2 pivot point around 1.18241. Monitor the D1 chart for confirmation of the breakdown.
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Hi @adam3405, I'm also watching EURUSD closely. I think 1.1840 is a good level to watch, but I'm not sure if it will hold as support. The RSI being below 40 could mean it's oversold, but it might just keep going down. I'm thinking of waiting for a clearer signal before making a move. Maybe waiting for Monday is a good idea, see if any news impacts it? I'm still pretty new to all this tbh, so any advice is welcome!